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OneWeb Secures Investment from SoftBank and Hughes Network Systems

OneWeb has raised $1.4 billion in total financing SoftBank to take a seat on OneWeb Board of Directors LONDON, Jan. 15, 2021 /PRNewswire/ -- OneWeb, the Low Earth Orbit (LEO) satellite communications company jointly owned by the UK Government and Bharti Global, announced today that it has secured additional funding from SoftBank Group Corp. ("SoftBank") and Hughes Network Systems LLC ("Hughes"), bringing OneWeb's total funding to $1.4 billion. The capital raised to date positions the Company to be fully funded for its first-generation satellite fleet, totaling 648 satellites, by the end of 2022.
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